Non–return Capital Contributions
The Tax Office issued the explanatory Circular #25 to provide additional explanation in regards with capital contributed to Non-Cy tax resident companies without the issue of shares in return. Our Tax department at PHS has summarized the circular and...
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Cyprus-Egypt Double Tax Treaty
Cyprus and Egypt have a Double Tax Treaty agreement in force that was signed in 1993 and is in force as from 14/3/1995. The main provisions that apply to each country are summed up as follows: Cyprus corporation tax is...
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Substance, tax residency of companies and beneficial owner of income
The most important issue faced by companies NOT only in Cyprus but all over the world is Substance. Substance is required by the new EU Parent / Subsidiary directive, the EU anti-tax avoidance directive, the OECD’s BEPS action plan, by various...
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Minimising Local & International Taxation
During the past few years Cyprus has put into force, tax incentives that would provide companies with benefits by investing in Cyprus. Also new tax laws for individual taxpayers were introduced, providing incentives for relocation to Cyprus by starting...
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What you should know on the amendment on VAT legislation for transactions involving immovable property
As part of the harmonization process with the European Union, the Republic of Cyprus must also comply with the EU VAT Directive (2006/112/EC). A major aspect of VAT harmonization was the addition of VAT on the sale of land,...
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CYPRUS – TAX INCENTIVES FOR CORPORATIONS
In continuance to our recent article in regards to tax saving incentives for individuals; we would like to present to you some of the most important changes enacted over the last few years as far as companies are concerned....
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